Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
I am not alone; several users of pre-existing accounts on our tenant have been affected around the migration date (local to cloud) and have reported this.
The real number of affected accounts is unknown though, as many use Outlook over MAPI, or the O365 web-app to check their emails.
Apparently there are no issues with newly created user accounts, but this was not extensively tested.
There is indeed no evidence that the issue pertains to OAuth2.
However, my email client tried to connect automatically via the old authentication procedure on the day after the migration, before I changed the settings manually to authenticate over OAuth2. Perhaps this has messed something up in the configuration files on the server? - Just thought I should mention that.
For documentation: Set up of the affected email account on fresh installations of email clients on two different machines did not fix the issue for me. This indicates that the configuration/communication issue exists on the server (or tenant) and not on the client side.